Federal Court approves Accor’s acquisition of Mantra

The Federal Court of Australia has approved Accor’s takeover of Mantra, which comes less than a week after the acquisition’s approval by Mantra’s shareholders.

In a statement to the Australian Securities Exchange (ASX), Mantra Group said it was “pleased to announce that the Federal Court of Australia has today made orders approving the scheme of arrangement under which all Mantra Shares will be acquired by AAPC Limited (a subsidiary of Accor S.A.)”.

“Mantra further confirms that a copy of the Court’s orders was lodged with the Australian Securities and Investments Commission (ASIC) and the Scheme has become legally effective.”

Once ASIC approves the deal, which is expected in the coming week, AccorHotels will add over 130 properties (over 22,000 rooms) to its network in Australia, New Zealand, Indonesia and Hawaii.